Dhaka, Oct. 3 -- Tesla is on course to end two straight years of falling sales after its third-quarter deliveries beat Wall Street estimates on Friday, with a rebound in Europe giving the automaker a way back to growth without US tax incentives.

Shares of the Austin, Texas-based company, which have lost about a fifth of their value so far this year, rose more than 5 percent in early trading.

The figures suggest Tesla's core car business may be regaining momentum even as investors increasingly look past quarterly deliveries to CEO Elon Musk's push into AI, robotaxis and humanoid robots.

The EV maker's roughly $1.40 trillion valuation depends heavily on those long-term ambitions, even though vehicle sales are still its largest source of ...